President of the Republic of Azerbaijan Ilham Aliyev has received a delegation led by President of the European Bank for Reconstruction and Development (EBRD) Suma Chakrabarti.

Hailing the long-term successful cooperation between Azerbaijan and the European Bank for Reconstruction and Development, the head of state described the implementation of projects worth a total of more than $3.5 billion as demonstration of the EBRD`s attitude towards Azerbaijan as a good partner, and thanked Suma Chakrabarti for this.

Expressing his gratitude for warm words, Suma Chakrabarti recalled that he visited Azerbaijan at a time of decreasing global oil prices, and extended his congratulations on recovery and development of the country`s economy. He noted that reforms implemented in Azerbaijan in recent years have led to increase in transparency and efficiency in a number of areas, including border and customs services, changes in the tax system, the expansion of the scope of “ASAN xidmet” system and great successes in other directions. Stressing the importance of Azerbaijan`s climbing to the 25th place in the World Bank`s Doing Business 2019 report, Suma Chakrabarti praised it as a great success.

President Ilham Aliyev underlined that the EBRD`s financing projects in Azerbaijan contributes greatly to the creation of modern infrastructure in the country, adding that the private sector`s use of these funds and its development indicates success of the EBRD`s strategy in Azerbaijan.

Noting that large-scale reforms have been implemented in Azerbaijan, President Ilham Aliyev pointed out that these reforms as well as a new approach in governance paved the way for further development of business and increase in budget revenues. The head of state said that last year and also this January and February revenues exceeded the planned amount. The President noted close collaboration of customs and tax systems in Azerbaijan, saying this ensured fruitful results in achieving maximum transparency in these bodies. President Ilham Aliyev said all these reforms and transparency are highly praised by the population. Stressing that Azerbaijan is moving on the well-thought-out and right path of development, the head of state said that the country is at the beginning of the first part of the reforms in these areas, and expressed confidence that all of these will yield successful results this year and in the years to come.

The European Bank for Reconstruction and Development`s interest in cooperating with Azerbaijan in new areas was emphasized at the meeting. The sides exchanged views on the development of the non-oil sector and cooperation in urban transport, renewable energy and other areas.